The Fundamental FOREX Blog

Tomorrow, Monday 08-31-09 at 9:45 AM ET the USD Chicago Purchasing Manager report for August will be released.

This report is released by Kingsbury International, LTD. on a monthly basis.

The last time this report was released was on Friday, 07-31-09 at 9:45 AM ET.

Not much happened as far as a difference between the “forecast“ and the “actual“ – but some currency pairs did have some movement – here is a run down.

USD Chicago Purchasing Manager report for August – stats

Previous = 39.9

Forecast = 42.5

Actual = 43.4     good – 0.9 higher than “forecast”

Two USD involved currency pairs had some movement in a predicted way, and the two “cross” currency pairs had nice movements.

a one minute EUR/USD chart

This EUR/USD currency pair moved down 24 PIPS after 2 minutes – then reversed after 21 minutes. Predicted!

a one minute GBP/USD chart

This GBP/USD currency pair moved down 30 PIPS after first minute – then reversed after 15 minutes. Predicted!

Crosses:

a one minute EUR/JPY chart

This EUR/JPY currency pair moved down 42 PIPS after 2 minutes – then reversed after 18 minutes.

a one minute GBP/JPY chart

This GBP/JPY currency pair moved down 55 PIPS after 2 minutes – then reversed after 14 minutes.

Here is the set up for this months report:

USD Chicago Purchasing Manager report for August – stats

Previous = 43.4

Forecast = 47.4

Judging from the results of the last report – I will set up for a trade with the currency pair GBP/JPY – if the “actual” comes out at say 50.0 or higher, I will execute a “buy” order, and a “sell” order if the “actual” comes out at 44.0 or lower.

I will also try to “scalp” the trend if the “actual” is even greater than 5.0 in difference from the “forecast”.

I will write a post of the results soon after this repot is finished.

Stay tuned!